Analysis for March 18th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating near the 5/8 level. If the price rebounds from this level downwards during the day, the pair may start a new descending correction. In this case, the first target for bears will be at the 4/8 level.
At the H1 chart, Eurodollar is moving inside “overbought zone” and supported by Super Trends. If the pair rebounds from the +2/8 level in the nearest future, it may resume moving downwards. However, if the market breaks this level after all, the lines at the chart will be redrawn and the price will continue growing.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
Yesterday the price was able to stay above the 5/8 level, which means that bulls may return to the market. Possibly, quite soon, Super Trends may form “bullish cross” and then the market may break this month’s high.
Considering that the pair is moving in the middle of the H1 chart, the closest target is at the 5/8 level. Earlier, Super Trends formed “bullish cross”. In the nearest future, the market may break its local highs.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds steady near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.